[Li Cheng] Shareholders Approve Waiver of Non-Compete Restrictions for New Director and Representative
On May 22, 115 (Republic of China calendar), Li Cheng Precision Industry held its annual shareholder meeting and unanimously approved the waiver of non-compete restrictions for the newly appointed corporate director representative, Lin Yi-duo.
📋 Article Processing Timeline
- 📰 Published: May 22, 2026 at 09:00
- 🔍 Collected: May 23, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 25, 2026 at 07:39 (47h 39m after Collected)
1. Date of shareholder meeting resolution: May 22, 115
2. Name and title of the director permitted to engage in competitive activities:
Corporate director representative: Lin Yi-duo
3. Items of permitted competitive activities: Companies with the same or similar business scope as the Company
4. Period of permitted competitive activities: During the term of office as a director of the Company
5. Resolution status (explanation of voting results according to Article 209 of the Company Act):
Passed unanimously by all attending shareholders upon inquiry by the Chairperson.
6. If the permitted competitive activities involve businesses in Mainland China:
Not applicable
7. Company name and position held in the Mainland China business: Not applicable
8. Address of the Mainland China business: Not applicable
9. Business items of the Mainland China business: Not applicable
10. Impact on the Company's financial and business operations: Not applicable
11. Investment amount and shareholding ratio if the director invests in the Mainland China business: Not applicable
12. Other matters: None
2. Name and title of the director permitted to engage in competitive activities:
Corporate director representative: Lin Yi-duo
3. Items of permitted competitive activities: Companies with the same or similar business scope as the Company
4. Period of permitted competitive activities: During the term of office as a director of the Company
5. Resolution status (explanation of voting results according to Article 209 of the Company Act):
Passed unanimously by all attending shareholders upon inquiry by the Chairperson.
6. If the permitted competitive activities involve businesses in Mainland China:
Not applicable
7. Company name and position held in the Mainland China business: Not applicable
8. Address of the Mainland China business: Not applicable
9. Business items of the Mainland China business: Not applicable
10. Impact on the Company's financial and business operations: Not applicable
11. Investment amount and shareholding ratio if the director invests in the Mainland China business: Not applicable
12. Other matters: None
FAQ
Why is the non-compete clause waived?
It allows directors to contribute their expertise to other related businesses and enhances flexibility in management decisions.
How do shareholders participate?
By voting at the shareholder meeting, shareholders manage and approve the scope of directors' activities.
Is there a risk of conflict of interest?
Waiving the non-compete clause creates potential conflicts of interest, but transparency is maintained by obtaining approval through shareholder meetings as required by company law.